Award winning market research company Fact.MR’s global silicon carbide market report forecasts a positive growth path for 2021, attributed to a post-pandemic recovery scenario, with the resumption of production cycles across such key industries as automotive and aerospace. As per Fact.MR’s projections, the market will most likely experience a four-fold growth in the forthcoming assessment period.
The market has made stupendous gains in the past, with growing applications across the power electronics domain. Since years, accelerating demand for good quality power in distribution systems along with large scale integration of renewable energy sources has augmented the need for new technologies, hence broadening the scope of power electronics. They have found widespread usage across energy saving and high voltage industrial applications.
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Growth is especially likely to remain strong amid the surging popularity of plug-in hybrid electric and electric vehicles. Implementation of stringent environmental regulations to curb CO2 emissions has prompted automotive manufacturers to augment investments in developing state-of-the-art EV technology. To attain maximum efficiency, manufacturers are incorporating silicon carbide derived batteries, powertrains and other relevant EV accessories, leading to widening revenue margins for the market in the future.
“Forthcoming years will usher in a monolithic integration of SiC based power devices, assisting prominent manufacturers to produce circuits and batteries with fewer external components, helping consume limited space and less time which would eventually enhance production efficiency and also dole out high density power designs,” says a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Silicon Carbide Market Study
- Black silicon carbide to grow briskly, likely to maintain a stronghold of over 50% through the forecast period
- Uptake across the electrical & electronics industry to remain sustained, attributed to high thermal conductivity
- Rising applications for manufacturing power supply and motor control devices in the aerospace industry to fuel US silicon carbide market growth
- UK to experience credible growth amid increasing abrasive applications for grinding non-ferrous material
- Germany and France to witness high adoption amid a surging EV market
- Demand for energy efficient automotive manufacturing to drive sales across China, India and Indonesia
Silicon Carbide Market- Prominent Drivers
- Silicon carbide semiconductors help reduce power loss by 50%, leading to heightened uptake across key industries
- Proliferation electric vehicles demand is likely to augment silicon carbide demand across manufacturing battery chargers and converters
- Manufacturers are foraying into green SiC manufacturing, owing to its high purity and friability
Silicon Carbide Market- Key Restraints
- High sourcing and procurement costs to limit silicon carbide uptake across small and medium-scale manufacturing units
- Packaging issues attributed to increase in loss power density is acting as an important growth restraint factor
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Key silicon carbide manufacturers as profiled by Fact.MR include Dow Chemical Co., Agsco Corporation, Saint Gobain Ceramic Materials GmbH, Carborundum Universal Ltd., Entegris Inc., ESD-SIC B.V., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd. and Snam Abrasives Pvt. Ltd. among others.
Agsco Corporation is a prominent manufacturer, producing angular grain shaped silicon carbide for applications in tool cutting, lapping and anti-slip impartation across medium to heavy metal industries. It packages and dispatches them in 300 lbs. drums.
ON Semiconductors is another major silicon carbide player, which manufactures silicon carbide diodes which include the AEC-Q101 Qualified and PPAP Capable options for automotive and industrial applications. These diodes come in the range of 650 V, 1200 V and 1700 V respectively.
More Valuable Insights on Silicon Carbide Market
Fact.MR, in its new offering, provides an in-depth analysis of the global silicon carbide market. The study provides readers with essential insights on the silicon carbide market on the basis of product (black silicon and green silicon), application (steel, automotive, aerospace, military & defense, electrical & electronics, healthcare, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
Key Questions Covered in Report
- Which are the opportunities in silicon carbide market?
- What are silicon carbide market drivers?
- What is the regional analysis of the silicon carbide market?
- Which countries are expected to witness high growth in Silicon Carbide Market?
- Who are the key companies operating in the global Silicon Carbide Market?
- What was the leading product segment in the global silicon carbide market?
- In what way the silicon carbide market to influence the semiconductor industry?
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